What will Singapore real estate market be like in the year 2020
There are 52 new projects this year, as well as a new project for seven years, most of the year. By 2020, with 37 new projects and half of the apartment units, sales momentum will continue to keep good? Property consultancy commented.
In the first 11 months of 2019, the new private residential sales totaled 9,547 suite (not including the condo or ECs). Chief Executive Officer of Realty Propnex Ismail Gafoor said: “This number is over for the whole of 2018 set 8,795.” He estimated full-year sales of new homes for about 10,000 units.
Jones Lang LaSalle research and consulting senior director of Teck Ong Hui said: “in 2019, new home sales Performance Health is because prices remains a resilient, although in July 2018 to implement cooling measures.”
Ong added that the private residential price index in the second quarter of 2019, up 1.5 per cent in the third quarter of 2019 rose by 1.3 per cent, which could give buyers and sellers more confidence, the main market sales relatively healthy.
The Propnex Ismail expects that next year there will be 37 new project was launched. He predicted that sales momentum will “stay positive”.
Colliers International (Colliers International) Singapore research director Tricia Song says, 52, released in 2019, three new projects can be translated into some 17,000 set of residential units.
ERA Realty research and advisory business executive Nicholas Mak said: “This year’s new property number is the highest since 2012, with a total of 21,478 set.” This is a breakthrough for the first time the figure of 20,000 mark. 2012, new-home sales also hit a record high of 22,197 set. ”
Super development projects the sales push
This is significant, as four new projects are “super development projects,” each of these items are more than 1,000 sets of units, namely Ju Po yuan (2,203 units set), Yue Lake court (The Florence Residences) (1,410 units set), Jin Tai parentage (amount set of units) and the Avenue South Residence 1,074 units, by 2020, such a project would no longer be available. Colliers noted that the largest project will be located in 10 of Tampines Avenue (Tampines Avenue 10) of the EC, there were a total of 695 set of units.
Song said that Park in treasure this year reached the absolute number of rental units – 856 set its 2,203, accounting for 39 per cent of the portfolio of housing unit, Singapore is by far the largest private apartment. In percentage terms this year, the unit has 262 set the Sky Everton. According to the data, as of December 20, of which about 68 per cent of the apartments to $2,548 average price per square foot in sales.
Integrated mixed use development projects have also seen strong demand, such as Hong Kong and fine garden, the site launched in its first weekend of 216 apartments are being snapped up 680 apartments, accounting for 32 per cent of the total, in November last year the average price per square foot of $1,700. Colliers Song noted that, in another mixed use development project One Holland Village Residences since late November, since the launch of the 296 apartments have been sold about 37 per cent, with prices ranging from $2,600 per square foot to $3,200 in between.
This year, another notable project is located in Shi la Road (Silat Avenue), the Avenue South Residence, a total of 1,074 unit set on Gambia Balu Road (Kampong Bahru Road) nearby. Since its launch in September, as of 20 December, the average unit price of 437 set $1,951 per square foot, which had a 41 per cent occupancy rate.
Sky Everton and the south peak Royale have benefited from approaching the upcoming South Coast areas, future development and reconstruction of the new plans will be announced in August.
From the government’s infrastructure projects for the benefit of the other projects, including a set of 1,052 units, Affinity at Serangoon.
52, which started in 2019 in a project, about 20 (38%) at the Golden Mile, ninth, 10th and 11th district, eight projects (15%) at the Golden Mile area 15, Amber Road (Amber Road) and Saint Michael (Meyer Road) and residential area on the East Coast. Next year, 37 projects include 15 (41%) at the ninth, 10th and 11th districts, only two in the 15th arrondissement (see chart).
There are three next year, on the other hand, a EC project, which will be launched in Anchorvale Crescent has a set of units, 548 Ola; 385 units have set the Parc Canberra; There are EC coming up such as Parc Central Residences at Tampines Avenue 10 in the forthcoming launch of the EC. In contrast, only a EC was introduced in 2019, i.e. Piermont Grand EC at Punggol Sumang Walk has 820 units.
The Song refers to Colliers, waiting for the launch of a new private land, not the number of residential units is estimated to be about 8,900 set in 2019, slightly more than half.
Real estate developers are interested in at the end of the third quarter of 2019 totaled 31,948 unsold inventory, they are expected to be set up in the next three to four year period were sold, assuming there are no new supply onto the market every year, and absorption rate stable at 9,000 to 10,000 units.
Buyers are concerned about the project, 2020
The Propnex Ismail said, “the majority of buyers are large projects attract because they want to have a full set of apartments facilities.”
most look forward to next year’s launch of a new project is Green Duny court (the joint venture company MCL estate (MCL Land), Jen and constant land (Yanlord Land) to buy the whole Jin Xiangyuan), because it has a permanent property, a gold in the 10th arrondissement location, situated in a fairly large area 316,711 sq ft site.
The buyers are concerned about another upcoming project is a 999 year lease Ki of residences, it is the industrial (hoi Hup Realty) and Sunway development (Sunway developments) jointly developed by the Lake Garden (Brookvale Park), it is expected that the 660 homes.
The government land sales (GLS) bought plots of land, in the minds of those in home items including a gold in the 11th District Kampong Java, with 378 units set Kopar at Newton, the Eng into group (Chip Eng Seng) real estate development company owned by CEL Development drive send; Wing Tai Holdings developing a new condo at Middle Road in the construction of the 375 units set The M; In Chen, Gilyan Street (Tan Lan Quee Street), the GLS parcels by Singapore Guocoland development, which is expected to have a 560 homes and units, and across the road from the city Midtown, integrated development projects together.
An interesting trend this year is that, despite the extra stamp duty for buyers (ABSD) increased to 20 per cent, but core central region (CCR) foreign buyer numbers still on the rise, in 2019, international buyers Buy Fang Qiang accounted for 6 per cent to 7 per cent, the same level in 2015-2017. Song of Colliers International, said they were in the CCR in 2019 represented the second and third quarters, jumped to 17 per cent to 19 per cent, while in 2015-2017, this proportion was 13 per cent to 14 per cent.
In the luxury space, Boulevard in 88 (Yuan Bao Lihua Hotel (Boulevard Hotel)) to 87 apartments (56.5%) of the sales figures come out on top, sold a total of 154 apartment. According to one